Tag Archives: SBI

Notes Ban Impact: EMIs To Fall As SBI, Other Banks Cut Lending Rates

New Delhi: Top PSU lenders State Bank of India, PNB and Union Bank on Sunday slashed their benchmark lending rates by up to 90 basis points, a day after Prime Minister Narendra Modi asked banks to priorities their lending towards the poor and middle class. The country’s largest lender, SBI, has reduced marginal cost of funds based lending rate (MCLR) ... Read More »

SBI Cards Sees Business Opportunity In Low Income Category

New Delhi: To tap opportunities arising out of limited cash supply following demonetisation, SBI Cards will soon launch credit cards aimed at the lower income group who have the capacity to pay but don’t have cards, besides quickening card delivery period to 2-3 days. “From the issuer side, what we can do is acquire more people and acquire faster. Another ... Read More »

SBI Collects Rs. 1,14,139 Crore In Deposits In Seven Days

  Mumbai: State Bank of India (SBI) on Wednesday said it collected Rs. 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs. 500 and Rs. 1,000 notes. In a statement here on Wednesday, SBI said it saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 p.m. The government ... Read More »

Not Worried About Boardroom Battle At Tata Group: SBI

State Bank of India discounted the fear of the boardroom battle at Tata Group. Mumbai: State Bank of India, which has a large exposure to Tata Group, today discounted the fear of the boardroom battle between promoters and ousted chairman Cyrus Mistry affecting performance of the companies. “Tata Group companies have been built by professionals, so what the owners do ... Read More »

SBI Life Public Float Likely In Next 18-24 Months

Mumbai: SBI Chairman Arundhati Bhattacharya today said the bank is planning an initial public offering (IPO) of its life insurance JV, SBI Life, in the next 18-24 months. Last month, SBI had said it would offload up to 5 per cent stake in its life insurance joint venture. “We have already said we want to divest a small portion through ... Read More »

SBI Net Dips 99.6% To Rs 20.7 Crore On Mounting Bad Loans

Mumbai: A massive pile up of bad loans at its subsidiaries pulled down by 99.6 per cent the consolidated net profit of nation’s largest lender SBI to Rs 20.7 crore for the September quarter, while its standalone provisioning rose 3-fold. The bank had reported net profit of Rs 4,991.70 crore in the same quarter of last financial year, 2015-16. The ... Read More »